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<br /> ' _. . .� .i 8arrowels eserow aceount under the tederal Reat Esbste Sett�ment Proeedures Act ot t97'4 as amended from Ume ro tBne. t2 US.G . �t�•
<br /> • ,i 2501 ei Seq.('FlESPA'}.untess anatt�er!aw that aPPl�s to tha Funds sets a lesser amount. It so.Lender maY.at any t�a.coi�ct end � ,<::, ,.
<br /> _, � hotd Funds m er+ emount not ta eaeesd tAe�asser emcu�t Lend��Y��e me�^'�ount of tunda due on the basis of eurrent data
<br /> as�d c�a5onebQa esttrnates o1 e�enditures ot AiWte Esorow Items or otherwlse in accordance w�h applicabi��w. � •�s.
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<br /> ,. The Funds sha0 be held in an fnstituUon whose d�osds ere Insured by B taderal 89��Y. �+sUUmentai'ity. or cntih' (in�vQ"mg k ,
<br /> L,enCgr. 8 Lender Is suc�8n inStRutton)or(n any Federal MOeRe Laan 8ank. Lender sha0 epPly the Funds to Pay�e��w Items. ' � . -
<br /> ` . � lender may nat cNarge Bortower for hotding and apptyine the Funds,ennuatry snaNrin9 tt�e eserow account, or veritytng ttie Escrow , �
<br /> Items,unless lender paye Boirower Interest on the FunQs and aDD���w 0���n�r to meke such a eharg0. Howaver.1.6nQer , �� ,, �.
<br /> tnay require Borrower to pay a onedime Charge(or an independent�aat estate tax�eDortinQ service used by lenQer tn tonneccian w�A .� . .
<br /> � ' thls loan.untass eDDlicabis taw provlC�s otRerwlse. Un�ss en agreement is mada or appiicab�taw requ�es interest to be pa1Q.Lender .
<br /> shail not be requ�red to pay Bortower anY interest or 6amc�8s on the�unds. 8arrower end L¢nder may agree in writing, howsver,thet �;
<br /> -'""_� yytergst shap be paid on Ne Funds. Lender shatl give to 8ortawer, withaut cF►ar80. an ar►�ual accou^W9 ot the Funds, showing � _��
<br /> � credits and debiffi to the Funds and fhe purposa far whicA eac�deb8 to t�e Wn�was made- The Funds srs P�S����� � --
<br /> � . '_`3 security for aA sums sewred Oy thls Seturily InstttimenL � ..` o � -
<br /> � It the Wnds held by Lender exceed tAa amourKS perm�ted to he hetd by appQeable faw,Lendet shaU accounf to Bortower for the �•,
<br /> ". mxess WnQS tn aaordance wifh Me re4uNements of app6cabg faw. if tfie amaunt of Me Funds hefd by Lender at anat t�o Land�r Q .t • `
<br /> '�'� suffice�t to pay the Escrow Items when due.Lender may so no�Ty Barrower in wr�ing.and�n such csse 8ortower sheD p y � ' _ . �
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<br /> , . �` the Amourrt necessery to meke up the deflcieney.Bortowet shaU make up the deficiency in rto more than twetve monthry payments.at � , _ :�.<:.;_
<br /> � . lendefs so7e dLSCredon. , . ~,r ;'•��:�,.,
<br /> � Upon OayrtFent in fuU of aU sums secured by thLs SeCUritY InsVument,Lender SfiaU prompth r8tund to Boaower enY FunQs held by � ... •` ,�.� ..
<br /> ,: Lender. If.undes paiaSnaPh 21,lenQer shatl acquUe or s90 the ProPertY.Leeder.Pdor to the acquisiNon or sale of Me Property.shaQ
<br /> _ • ' .,i`} eP��Y�!r Funds hetd by Lender at Me tene of acquisition or sa19 as a cred"R agaa�st the sums secuted 6y this Se�wcity InsWmen4 � , . - - �_
<br /> �, �:� 3. Appiicatton of Payments. Uniess eppi'cahl�law provides otherwise,atl paymenLS receive0 by Lender undet paragrepAS _ -`
<br /> �; • �.�, 1 end 2 shaU be applied:first,to any prePayment charges due under the Note; second,to amounts payabte under peragraPA�third ;,. �
<br /> tp interest due;fourth,to prmetpai due:and tast,to eny Iata charges due under the Note. `°' R��
<br /> .:: �� 4. Ch8Tge8;Li@t18. Bortowar snaU pay aU taxes� assessments. charges, flnes and �nDosrtions attrbutabte to the Property ` , .•}` ;�,__
<br /> - : : .�'�'`�•- -. 1��. which may attain PdornY over thts SecuritY tnstrument, and �asehotd paYments or graund rents. d any. Borrower shall pay these —._ �.`.
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<br /> � _ obGgattons in the manner provided fn p a r a g r a 0h 2,or n no!paid tn that manner.Borrower shali pay tham on Ume directiy to the persort �_
<br /> ',° ;�:---
<br /> � owed payment 8orcawar shall prompUy tumEsh to Lender ali notices ot amounts to be patd under thCs paragraPh• ��Barrower makes � .y:.
<br /> , �"� these payments dirEecth►.Borrower shaU PromP1fY tumish to Lender recetpta evidencing the payments. ��g� ,, t,?;�•,-
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<br /> ,�;�.:� . -•;, BOrrower shatl prompty discAarg9 any Iien whtch Aas pdarity over this Security Instnument unfess 8orrower:(aj agtees � :,IL y�. „�
<br /> � • the payment of the obligaUon secured by the tien in a manner acceptable to Lender,(b)contests�n 800d feith the I�by,ar deiends ( -. �
<br /> agafist enforcement of the lien in,tegal Droceedings whtch in the Lenders opinlon operate to prevent the entorcement of the tien;or(c) ..,'
<br /> � secures fram the hatQer of the �iw►an a9reement sattsfaCtory to LenQer suhordtnat6�g tha Ilen to this Seeurity lostrume�� ►f Lender � .•�.,__--
<br /> � determtnes that any Part af the PropeRy is subJect to a Ifen whieh may atffifn DrforRS► over this Securiry tns�trument, Lender rnay give :�:1::�.�--
<br /> 8ortower a nodce identitying the fien. 8ortovrer shatl satisty the iien or take one or more of Me actions set forth ebave withn t0 days -.
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<br /> of the giub�g of notice. • �>:�-:��
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<br /> � 5. HaYard or Property tnsurance. 8orrower shall keey the improvements now e��stmg or nereaser ereccee on cne ,,;� �, �
<br /> - � Property insured against toss by fire.hamrds inoiuded wiMin the term'e�Qended coverage'and any other hazards,inCiuding ftoods ar • ;�
<br /> ftoodtng, fw which Lender requhes tnsurance. Th15 tnsurance shali be malntatried in the amounts and for the periaQs Mat Lender :- �
<br /> • � t� requires. The tnsurance canfer praviding the insurance shaH be chosen by Borrower subject to lenders approval wt�ich sha(1 noi Oe .�
<br /> • unreasonabty wRhhetd. If BoROwer faib to mab+taM coverage described a�ove,LenQer may.at Leedefs opttan, obffitn coverage to �•�� z��..
<br /> • • `''
<br /> • protect lenders rights in the PrapeRy tn accordance witA paragraph 7. . _�;-
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<br /> � � Ati insuranee pol3cies and renevia►s shall be acceptabie to lsnder and shail tncade e stsndard mortgage clause. LenQer sha0 have _; .:
<br /> � ive to Lendec ait receipts of pald premlums . :'r�-
<br /> the r ht to hotd the pol'�c�es and renewats. If Lender requlres, Bortower shall prompUy g , :: �•�--
<br /> antl renewal notices. In the event of lass, Borrower shall give prompt notice to the �nsurance car*1er and Lender. Lender may make :�
<br /> proof o1►oss N not made promptly by Bonower. ., :�;_;
<br /> ' Untess Lender and Borcower othenvise agree in writin8.insurance praceeds shali be appiied to restoratlon or repatr o!the Property �.,.
<br /> damaged. N the restoration or wpair is economtcally teasB�le and Lenders securiqr ts not tessened. If the restoratlon or repatr is noe . •, '.•'j ,:-
<br /> � econombaUy feasbte or Lenaefs securityr would be lesseneC,the insurance proceeds shall be epplied to tha sums seeured by thls
<br /> Security lastrument� whet�er or not then Que, wfth any excess Oaid to Bortower. If 8orrower abandons the Properry,or does not .
<br /> answer wKAtn 30 days a noike from LenQer that the insurance carrier has oNered to settte a claim, then Lender may cotieGt tho • .
<br /> insurance proceeds. Lender may use the proceeQs to repa� or restore the PropeRy or ta pay sums seeured by tnis Securiry . ;
<br /> ' Instrument,whether ot not then dus.The 34day perlod w(II begin when the notice is gluen. ' '. . �.
<br /> • � � Unless Lender and Borrowar otherwise agree in wrRing.anY BPP�etion of proceeds to principal Shat!not extend ot postpone t�e .
<br /> due Cate ol the monthy payments reterted to in paragrsphs t and 2 or ehanSe the amount o1 the payments. If under paragraph 21
<br /> the ProDerty is acqulred by Lender.Bortower's right w anY insurance poUcies and Froceeds resutto�g from damage to the Pro�zrty prior �!' . 1 .
<br /> � to tha acqulsiUon shail pass to �enQer to t�e extent of the s�ms secureQ by this Secur",ry Instrument Immediatety pfior to the ;..,, . �
<br /> _ � acQu�s�Gon. • � .
<br /> • 6. �Occupaney. P�eservation, Maintenane� and Protection o! the Property: Borrower's Loan
<br /> . Applleation; Leasehotda. Bortower shali acCUpy,esteb�15h, end use the PropeRy as Bortowers princ�pal resi�enCe wAhin SbRy
<br /> d8ys after the exeCUtlon o1 this Security tnSWment and shall tontmue to oCCUpy the Property as Bortowets ptinCtpal resiQenee tOr at
<br /> ' least one year after the datA of occupancy, unless Lender a:herwlse agrees in wripng, w�io1 consent sha11 not he unreesonabry . �
<br /> withheid.or uniess extenuating circumstances exist which are beyond 8onowers controt. 8onower shall noi destroy,tlamage or ImpaU . ,
<br /> the Property,altow the PropBRy to Qeteriorata,or commit waste on the Praperty. Bortower shatl be in deteult H any forfetture aCNon or .
<br /> proceeding,whether civii or criminsl,is begun that in lender's go0d lafth Judgment could tesui!In for(eiturA of the Properiy or olnenvis9 '
<br /> � � materialty impa'v the lien created by this Security Insuument or lsnders Security interest. Borcower may cure such a defautt and
<br /> reinstate. as provided e�paragraph 18,by causing the aCUon or proceed�g ta be dismissed with a ruling thet. �n Lendels go0d faRh
<br /> determinatton, precludes foAeitute o1 the 8ortowers interest in the Property or other material tmpatrment of the lien created by this
<br /> Security Instrument or t.�mde�s security interest. Bonowet shall also be In detauft if Borrower, during the loan appltcatlon process.
<br /> ,'_,•. • gave materlally false or inaccurate information or statements to Lender (or failed to provlde Lender wRh any mate►iai informatlon) in � �
<br /> � connection with the loan e�ldenc¢d Dy the Note, inctutli�g, but not fimitea to, representations coneeming Bortower5 occupancy ot the �
<br /> � � Property es a principal residence. If tnts Security insuument is on a leasehotd, Bortowar shall compry with all the provisions ot the
<br /> �ease. It Borrower acpuues tse title ta the Property. the leasehold and the fee titls shatl rtot merge untess the Lender agrees to the
<br /> • � merger in wrRing. Form ao?e ereo
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